Bacon price hits an all-time high in US and Canada

If even CNN and Fox News write about the bacon market, then something is up. And so it is. Bacon prices in the US are at their highest level ever. In the past year, the price has increased by almost 30%. The consumer price for 1 pound of bacon (= 0.45 kilo) recently passed the $7 level for the first time. A price rally is also underway in Canada and records are being broken. Imbalance in supply and demand The cause of the price explosion is an imbalance between supply and demand, fueled by corona. The outbreaks in American slaughterhouses have put processing capacity under pressure, and pig farmers were forced to cull their animals. In addition, the American pig population has thinned considerably in recent months. As a result, meat stocks have come under pressure. Figures from the United States Department of Agriculture (USDA) show that the stock of pork bellies in cold stores has nearly halved to 8,500 tons in the past year. This is the lowest level in years. Moreover, the ...